U.S. ‘rushed To Judgment’ Against SAC’s Martoma, Lawyer Tells Jury
Prosecutors “rushed to judgment” in charging former SAC Capital Advisors portfolio manager Mathew Martoma with insider trading, his lawyer told jurors on Friday. Richard Strassberg, Martoma’s attorney, argued there were “many, many independent reasons” for the hedge fund to have made the trades at the heart of the case. “The story just doesn’t add up because in the haste to make a case, the prosecution rushed to judgment,” Strassberg said. Arlo Devlin-Brown, an assistant U.S. attorney, acknowledged that Martoma did research before trading in the stocks and making investment recommendations to Steven A. Cohen, the founder of SAC Capital. “But the evidence is going to show Mathew Martoma also sought out an illegal edge,” Devlin-Brown said.
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